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MANAGEMENT REPORT
AUDIT OF SCHOOL FUND
Insert name of school
For Accounting year ending
Insert date

Date of visit: Insert date

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Distribution:
File Copy
School copy

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SCHOOL FUND AUDIT

CONTENTS

Sections 1 – 9
School Funds

ERYC Internal Audit Guidance on Management of

Section 10

Audit Approach

Section 11

Audit Findings Recommendations

Section 12

Conclusion

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1

INTRODUCTION

1.1

A school fund is a fund containing other than official monies of the Local
Education Authority.
This fund is controlled wholly or in part by a
Headteacher, due to that person’s employment in a school.

1.2

The school fund is totally separate from the delegated school budget.

2
2.1

REGULATIONS & RESPONSIBILITIES
The Financial Regulations for Schools state with regards to responsibility
for non-official monies:
‘The Governing Body shal